Beverley Flynn (Mayo, Fianna Fail)

It is because the people are demanding it. We have a collective responsibility to ensure it becomes a reality. It is also important that those found guilty of wrongdoing are brought to justice. The people must see that these issues are being addressed as a matter of urgency. The Government and the House will do so, but there is a collective responsibility on all Members to do so in a responsible manner and in the best interests of the country and the economy.

We should reaffirm that the bank guarantee scheme is operational until September 2010. This provides a further layer of security for depositors who have money in the banks. I say this with a view to assuring those people who have money in Irish banks that it is secure. It is important that we acknowledge that a further extension of the guarantee scheme may be considered, if and when needed.

It is worth remembering that the country still has an AAA rating. The international rating agencies which have put us on the watch in negative terms view the €2 billion cuts in public expenditure agreed to by the House very positively. This augers very well for the country in accessing money at favourable rates.

See this speech in context